Eight of the 27 fintech unicorns are Chinese, so what has led Asia’s largest country become the leader in the fintech space?

With four of the industry’s largest companies (and probably the top dog in Ant Financial) China has quietly become the global leader in the fintech industry.

Plus, if we are going to include a company like WeChat — who is not expressly a fintech company but certainly excels in financial-based functions — it becomes hard to argue than any country has a more vibrant ecosystem than China’s.

So what are the factors that have led to the success? This infographic from DBS and Ernst & Young explains what is happening on the ground.